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That's because New York since 1999 has basically become a huge tourist trap and fly paper for lifestylin' tranplantistas, who love to go out and blow their money on living it up. Once Giuliani cleaned the place up it really took off.
Of course, leave it to the Post to blare headlines at you, without any real substance. The number of new restaurants that opened in the last decade doesn't really tell you much. What's important to know is how many of them stayed open, and how many were only flashes in the pan (please excuse the pun).
That's because New York since 1999 has basically become a huge tourist trap and fly paper for lifestylin' tranplantistas, who love to go out and blow their money on living it up. Once Giuliani cleaned the place up it really took off.
Not only that. It also had a lot to do with the booming finance/bankign industry and their relatively high wages.
A friend who works in iBanking has his dinner comped by the firm (up to $50) if he stays past 8pm. People in the industry tend to work long hours and eat out a lot.
Not only that. It also had a lot to do with the booming finance/bankign industry and their relatively high wages.
A friend who works in iBanking has his dinner comped by the firm (up to $50) if he stays past 8pm. People in the industry tend to work long hours and eat out a lot.
And times had been good up till 2008, yes. That's definitely part it.
And times had been good up till 2008, yes. That's definitely part it.
The boom in finance/banking had a lot to do with the resurgence of NYC during the late 90's/early 2k's. High earning banking/finances employees brought along the need for more retail/service sector employment since they were the ones with pretty sizable discretionary income.
As a result of the cuts in the sector, the city is going to lose lots of good tax base they won't be able to recover except for more taxes.
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Just a fun fact about NYC...
